Looking to buy a new car

Kjacobs1987

Hi all, this is my very first post so apologies if it is not where it should be.....
So I want to buy a new car. I've already decided on the make & model (Kia Sportage) and have arranged a test drive this week. PCP seems to be the best option for me (I think) I have a "good" credit score or so Experian tells me. Does anyone know what the likeliness of me being granted a PCP agreement? I've also stumbles across drive the deal.com has anyone had any dealings with them? It's all new to me so want to make sure I'm making the right decisions and getting the best deal for me.

All advice appreciated

Thank you :j

DCFC79

I would check your credit report at Noodle and Clearscore as they may not just check the 1 agency. Your score is just a number no 1 can see your score/rating, whats important is the data is correct.

I don't believe anyone can say if you will get accepted.

You considered a used car ?

Kjacobs1987

Thank you.

I was actually planning to just take out a loan and get a used model (3 or 4 years old) however my monthly payments were only going to be around £20 a month cheaper and with the PCP I know it's only for 3 years so I can reassess my situation then rather than comitting to a 5 year loan.

DCFC79

Drivethedeal.com is fine to use, ive not used it myself but you can search the forums for drivethdeal.com.

glennstar

DCFC79 wrote: »

I would check your credit report at Noodle and Clearscore as they may not just check the 1 agency. Your score is just a number no 1 can see your score/rating, whats important is the data is correct.

I don't believe anyone can say if you will get accepted.

You considered a used car ?

Noddle is owned by Call Credit so uses their CRA data and Clearscore is a JV with Equifax, so uses theirs.

Most of the Car Finance companies like Black Horse, Santander, etc tend to use Experian score based processing as the finance is secured and the risk relatively low. You do need to make sure the affordability is sensible as this is a hot button for them since 08/09.

AnotherJoe

There is also carwow. Similar scheme to DTD

forgotmyname

The monthly payment may only be £20 cheaper but over 3 years thats £720 less and no balloon payment. Did you factor all charges into the final figure?

No balloon payment on the personal loan.

Kjacobs1987

Yeah I get that, the balloon payment with PCP would be £9k (for a 3 year old car) or at that point id only be 3 years into my 5 year personal loan which I would still have about £5500 left to pay for a 6 year old car. Thats on prices direct from Kia though but it seems drive the deal can knock a fair bit off the on the road price. I also quite like knowing I'm only entering a 3 year commitment instead of a 5 year one with the loan. Im going to wait to hear back from DTD and go from there.